Boulder County Housing Authority approves special limited partnership to advance 65-unit Spine Road affordable housing project

The Boulder County Housing Authority on Sept. 30 voted to support entering a special limited partnership (SLP) with the project developer to close remaining financing for the Spine Road project, a proposal to deliver 65 deed‑restricted affordable units in the Gun Barrel area.

The authority’s executive director, Susana Lopez Baker, told the board the project originally came to the housing authority in 2023, experienced funding gaps and was made viable after state funding and local support. “The state stepped in with 2,850,000.00 in Chaf A prop 123 funds,” consultant Luke Cannon said, describing the state award that he said was the missing piece to fully get the project “over the line.”

The board’s vote authorizes BCHA staff to negotiate terms for the SLP and to return a formal term sheet and resolution for the board’s consideration. The motion passed 2-1; Commissioner Salzman voted no.

Why it matters: the SLP would create a tax‑exempt vehicle that project backers say is necessary to deliver the planned 65 affordable units within a market‑rate development. The…